LiquidPiston, a Cambridge, Mass. company developing a new internal combustion engine (ICE) said it has raised a $1.75 million first round of capital from Adams Capital Management.
See the company's statement here.
Earlier this year, the company announced a $70,000 Phase I grant from the Army Small Business Innovation Research (SBIR) program. The company is led by immigrant physicist Nikolay and his son Alexander Shkolnik, a graduate student in MIT's engineering school.
It will use the financing to build and test a working prototype, it said.
Here's what it boasts:
With an architecture that is inherently scaleable from lawnmowers to locomotives and efficiencies that may someday put the 100 mile per gallon automobile within reach, LiquidPiston hopes to breathe new life into the ICE business.